Expert: Correct energy transformation will reduce the cost
Dubai – Al Arabiya.net
Posted on: August 03, 2023: 08:43 PM GST Last updated: August 03, 2023: 09:35 PM GST
The CEO of the Electric Energy Research Institute, Arshad Mansour, confirmed in an interview with “The Future of Energy – Arabia”, that the dilemma of storing renewable energy is a reality now, but it will become more severe with the increase in the production of these energies.
Mansour said storage capacities of between 16 and 24 hours are needed. Which exceeds the energy of “lithium ions” used in storage technologies today.
Mansour suggested to the Gulf countries, which may not have the minerals needed for the renewable energy industry, to set up factories to recycle metals, batteries and their components, to create huge global recycling centers.
“I can see a future for the Gulf countries to become a recycling center for lithium, cobalt and rare earth elements. This is a unique opportunity offered by the new energy system and it is not available in the fuel-dependent system because after burning it you cannot recover the fuel,” Mansour said.
He pointed out that it is possible, for example, to recover up to 90% of the lithium used in the manufacture of expired batteries.
He continued, “If you look at electricity prices today in the Gulf, and compare them to electricity prices after the events of the energy transition, how will they compare? Our analysis indicates that it depends on how the transition is, but we can see an increase in the cost of electricity between 20 to 30 percent.”
“If we do the right energy transition, the energy bill for the average consumer in the Gulf, which includes gasoline, electricity and gas, these three bills combined will be less expensive in 2050 compared to their total cost today.”
2023-08-03 16:43:00
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